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How to Use the Property Retention Pipeline

The Property Retention Pipeline identifies existing property owners who are attempting to leave the PRIME property management program, and takes them through a series of stages in an attempt to save the business. This article will cover each stage in detail.

For quick reference, watch our Loom video: How to Use the Property Retention Pipeline

Request to Cancel

The owner has requested to cancel their property management contract with PRIME, and PRIME is ready to start the process to save the business.

Initial Attempt to Save

The owner advised why they are leaving. It could be for a myriad of reasons. They may be going to a competitor, selling their home, choosing to no longer rent, etc. 

In this stage, a first attempt is made to remedy the situation. (i.e. We spoke with the team that has been caring for your home and XXX actions are being taken to ensure your home is better cared for. Does this solve your concerns?)

Task Created: A task will be created in this stage to document efforts made to retain this business during this stage.

Required Fields for this stage:

  • Cancel Reason
  • Where are they going?
  • Actual GLR

Value Summary Provided

The owner is still unsatisfied with the actions being taken and wants to still cancel. This stage provides the owner with a summary of the value they may lose if they switch. (i.e. building traction of reservations, specific fees you know the competitor includes that you don't, any other services you provide that they don't)

Task Created: A task will be created in this stage to document efforts made to retain this business during this stage.

Grace Period

If the owner is willing to do a grace period to see if you can turn things around, place them in this stage. This stage can be determined based on the agreement between the owner and PRIME.

Saved (Closed Won)

Hooray! The owner has decided to stay. This pipeline is unique in that an owner can move to Saved from any previous stage. If you save the business in the very early stages of the process, wonderful! If you take the save all the way through the grace period and win them over in the end, way to stick to the process. 

Closed Lost

The owner should only be moved here after all previous stages are attempted. This ensure due diligence is made to retain the owner.

Required Field for this stage:

  • Competitor of Interest (this will prefill Current VR Company as well)

Future enhancement > Open offboarding ticket and start offboarding pipeline.

Sold (Closed Lost)

The owner can immediately move here once this is determined. No need to take them through a save process, as there is no business to save.

Required Fields for this stage:

  • Cancel Reason
  • Where are they going?
  • Actual GLR


Future enhancement > Open offboarding ticket and start offboarding pipeline.

Future enhancement > Marketing trickle campaign to see if they purchase a new home.

No Longer Renting/Long Term Renting (Closed Lost)

The owner can immediately move here once this is determined. No need to take them through a save process, as there is no business to save.

Required Fields for this stage:

  • Cancel Reason
  • Where are they going?
  • Actual GLR


Future enhancement > Open offboarding ticket and start offboarding pipeline.

Future enhancment > Marketing trickle campaign to see if they want to short-term rent again.